Fitch on Friday upgraded Greece's sovereign credit rating by one notch from B- to B, and kept its positive outlook

Fitch on Friday upgraded Greece's sovereign credit rating by one notch from B- to B, and kept its positive outlook. In its report, the major rating agency estimated that the sustainability of the state debt will improve with the contribution of the economic recovery and the reduction of the political risk as the primary surpluses which are ensured by the additional fiscal measures that will be implemented until 2020. The expectations for the smooth conclusion of the third adjustment programme reduce the risk the economic recovery to be undermined by a blow to the trust or the creation of new overdue debts to the state.

Greece has already absorbed 2.1 billion euros from the Juncker Plan, according to European Commission data as of February 2018

Greece has already absorbed 2.1 billion euros from the Juncker Plan, according to European Commission data as of February 2018. The Commission is set to trigger 8.1 bln euros in additional investments, placing Greece on top of the list of total investment under the European Fund for Strategic Investments (EFSI) as a proportion of GDP, the Commission said. Approximately 1.8 bln in total financing has been disbursed for 12 projects in infrastructure and innovation, financed by the European Investment Bank (EIB) with EFSI backing. The projects are set to trigger another 5.7 bln in total investment. Another 319 million in total financing has been disbursed for 9 Small and Medium enterprises (SMEs) approved agreements with intermediary banks, financed by the European Investment Fund (EIF) with EFSI backing. They are set to trigger approximately 2.4 bln in investments, with some 11,298 SMEs and mid-cap companies expected to benefit from improved access to finance, the Commission said. Examples of funding projects include a 24 mln loan to Terna Energy Group to build three new wind farms in Viotia, central Greece; a 150 mln loan to telecoms operator Cosmote to roll out high-speed broadband across Greece; EFSI-backed financing of 15 mln to agri-food company Creta Farms develop new products and expand abroad, on Crete; and an EIF guarantee backing a National Bank of Greece loan to kalamata olive and olive oil company Mani Foods to invest in new machinery.

The sea region south of Crete will attract the interest of the oil industry in the coming months after the confirmation of exploratory drilling...

The sea region south of Crete will attract the interest of the oil industry in the coming months after the confirmation of exploratory drilling in Cyprus and a completion of expression of interest in the Ionian Sea and the west/southwest of Crete, said Yiannis Basias, chairman and CEO of Greek Hydrocarbons Resources Management SA, on Friday. Addressing the Athens Energy Forum, Basias said bids for the two regions will be submitted on March 5, in the framework of a process that began with the expression of interest by the Hellenic Petroleum, Total and Exxon consortium for Crete and Energean for the Ionian Sea. Bernard Clement, vice-president of Total responsible for hydrocarbon exploration in the Caspian Sea and South Europe, addressing the forum, expressed hope that the process will be successful for the consortium. The Total-Edison-Hellenic Petroleum consortium will conduct exploratory drilling in the Ionian Sea. Yiannis Grigoriou, general manager of explorations in Hellenic Petroleum, said that if there was an oil field in the West Patras Gulf (currently operated by Hellenic Petroleum and Edison) this could be around 140 million barrels and noted that the first drilling was scheduled for 2019.

The Commissioner called on the court to investigate the involvement of other persons, moral instigators and accomplices...

European Commissioner for Migration Dimitris Avramopoulos lodged a criminal report with the Supreme Court prosecutor on Friday against the two protected witnesses in the Novartis case for perjury, slander and false accusations.

The Commissioner called on the court to investigate the involvement of other persons, moral instigators and accomplices who may have participated in or committed other crimes, which can be persecuted of its own motion. He also submitted a request with the deputy prosecutor of the Supreme Court, who oversees the Corruption Prosecution, to immediately revoke the provisions used to grant the protected status to the two witnesses. "In a 2,500-page case file there are only two paragraphs referencing my name based on the two false witnesses and there isn't a single word of these statements that is not false, self-evidently and obviously. Their inclusion in the witness protection status should be re-examined by the Honorable Deputy Prosecutor of the Supreme Court so that the relevant provisions are revoked and false witnesses are brought to justice and punished for the crimes they committed with their statements," he said.

Main opposition New Democracy (ND), in a statement on Friday, said that it took Foreign Minister Nikos Kotzias 15 hours to react...

Main opposition New Democracy (ND), in a statement on Friday, said that it took Foreign Minister Nikos Kotzias 15 hours to react to "the piratical action against a Greek ship, within Greek territorial waters, at the islets of Imia."

"Unfortunately, while the Turkish provocations are increasing, the foreign minister is continuing - on this front also - to exercise foreign policy for internal consumption," it added.

"Instead of communication tricks, it would be more useful to promptly mobilise every diplomatic means to protect Greece's sovereign rights, which are being so openly disputed by Turkey. And taking steps in advance to protect the nation's interests," the announcement added.

Greece's privatization agency (HRADF) received on Friday two binding offers for the acquisition of a 66 percent stake...

Greece's privatization agency (HRADF) received on Friday two binding offers for the acquisition of a 66 percent stake (31 pct stake owned by HRADF and 35 pct owned by Hellenic Petroleum) in the country's natural gas grid operator DESFA. The binding offers were submitted by the following two consortia: - Snam S.p.A., Enag's Internacional S.L.U. and Fluxys S.A. - Regasificadora del Noroeste S.A., Reganosa Asset Investments S.L.U., S.N.T.G.N. Transgaz S.A. and European Bank for Reconstruction and Development (EBRD) The evaluation process will begin immediately and will be in line with the terms specified in the tender's process letter.